Securities and Exchange Commission of Pakistan organizes Consultative Session on draft Companies Bill

Karachi, January 18, 2016 (PPI-OT): The Securities and Exchange Commission of Pakistan (SECP) in collaboration with the Federation of Pakistan Chamber of Commerce and Industry (FPCCI) organized a consultative session on the draft Companies Bill at FPCCI.

Mr. S. Khalid Tawab Senior Vice President, Mr. Tariq Arshad Vice President of FPCCI and senior officials of the SECP including Mr. Tahir Mahmood (Commissioner Company Law Division), Mr. Abdul Rehman Qureshi (Advisor to the Commission), Mr. Jawed Hussain (Registrar of Companies), Mr. Sidney Custodio Pereira (Additional Registrar of Companies) and officers of the Company Registration Office Karachi attended the event.

Addressing at the occasion, SECP’s Commissioner Tahir Mahmood said that the new law will provide a breathing space for smaller companies by way of lesser regulation and an encouraging regime for raising and maintaining capital for large companies.

Mr. Jawed Hussain, Registrar of Companies to the participants on the substantial changes proposed through the draft Bill. The main objects of the presentation included; providing facilitation to the corporate sector and other stake holders, strengthening the existing regulatory frame work, steps towards adoption of technology, specific provisions to safeguard the rights and interests of strategic investors and to attract foreign investments and new concepts adopted by international jurisdictions.

The presentation was followed by a very productive feedback from the participants on various aspects of the draft Bill. The participants appreciated the role of SECP for introducing provisions for facilitation of the corporate sector in the draft Bill. The feedback of the participants was noted for further deliberation at the relevant quarters and for finalizing the draft Bill.

The SECP further plans to hold a series of consultative sessions at various other cities across Pakistan in order to have maximum participation and feedback. Eminent professionals, senior chartered accountants, lawyers, corporate consultants, professionals, businessmen and company secretaries of leading companies attended the session.

For more information, contact:
Shakil Ahmad Chaudhary
Head, Internal and External Communication
Securities and Exchange Commission of Pakistan (SECP)
NIC Building, 63 Jinnah Avenue, Islamabad
Tel: +92-51-9214005 or +92-51-9214009 (Ext. 378)
Fax: +92-51-9206459
Cell: +92-302-8552254
E-mail: shakil.chaudhary@secp.gov.pk
Website: www.secp.gov.pk